Both leading independent proxy advisors
recommend shareholders vote for the re-election of incumbent
directors, equity incentive plan amendment, and appointment of
auditors
Company reminds shareholders to vote today to
protect the value of their investment and ensure Aurinia’s
continued momentum
Company to release first quarter financial and
operational results on May 4, 2023
Shareholders with questions or who require
assistance voting their shares should contact Laurel Hill Advisory
Group toll free within North America at 1-877-452-7184
(1-416-304-0211 outside North America), or by email at
assistance@laurelhill.com
Aurinia Pharmaceuticals Inc. (NASDAQ: AUPH) (“Aurinia” or the
“Company”) today announced that leading independent proxy advisor
Institutional Shareholder Services (“ISS”) has recommended that
Aurinia shareholders vote FOR the re-election of all eight
incumbent directors to the Board of Directors (the “Board”) at the
Company’s 2023 Annual General Meeting (the “Meeting”).
ISS’ positive recommendation follows an April 26 report from
Glass Lewis, another leading independent proxy advisor, which also
recommended that shareholders vote for the re-election of all
incumbent directors.
Aurinia is pleased that ISS and Glass Lewis recognize the Board
and management’s pivotal role in the Company’s continued growth and
momentum. Aurinia’s Board also appreciates the feedback and
continued strong support of our shareholders.
Aurinia’s Board and management are taking the right steps to
maximize shareholder value.
Aurinia is well-positioned for significant value enhancement.
The Company continues to build upon its robust sales growth – with
net sales increasing over 194% in 2022 – and is making significant
progress in expanding LUPKYNIS’ availability in international
markets in partnership with Otsuka.
In 2022, LUPKYNIS received approvals in the UK and EU and
launched in several EU countries. Our efforts to gain regulatory
approval in Japan remain on track, and we continue to expect a PMDA
submission in the back half of 2023. We believe that our
commercialization efforts will continue to unlock significant value
for shareholders.
Each member of the Board has played an integral role in our
progress to date. Our directors have the expertise needed to
oversee and guide management and drive continued growth, including
the commercialization of pharmaceutical and biotech products,
business development, and international pharmaceutical operations.
They also bring strong track records of value creation and
commercial success.
Aurinia’s executive compensation aligns pay with
performance.
Aurinia disagrees with ISS’ recommendation regarding the
Company’s advisory vote on executive compensation. Our Compensation
Committee, which is comprised entirely of independent directors,
makes all compensation decisions while leveraging advice from an
independent third-party compensation consultant. The Compensation
Committee conducts a rigorous and thorough review of market
practices, especially those of peers, the general marketplace and
other industry data points to determine performance targets, pay
mix and levels that will best align management’s interests with
those of shareholders and support continued value creation. Aurinia
has also engaged extensively with its shareholder base each year
since the 2021 AGM and has made several improvements to the
compensation program to incorporate feedback from shareholders, as
detailed on page 54 of the proxy statement.
Importantly, ISS recognized that annual incentives for Aurinia
executives were based largely on the achievement of pre-set
corporate objectives, with the CEO's bonus being based solely on
such goals. Aurinia has also previously announced that it will add
a performance component to Long-Term Incentive Plan awards in
2023.
The Company also notes that leading proxy advisor Glass Lewis
recommended shareholders vote “FOR” Aurinia’s say-on-pay
resolution, along with all other proposals. We will continue to
listen to shareholder feedback regarding our executive compensation
and other important matters.
AURINIA SHAREHOLDERS: PROTECT THE VALUE OF
YOUR INVESTMENT BY VOTING ONLINE, BY MAIL, OR TELEPHONE
TODAY.
To ensure Aurinia’s continued momentum at a pivotal time for the
Company, the Board encourages all shareholders to vote “FOR”
ALL proposals today.
The virtual-only meeting will be held via live audio webcast
online using the LUMI meeting platform at
https://web.lumiagm.com/467056294 (password (case sensitive):
aurinia2023) on Wednesday, May 17, 2023 at 12:00 pm, Eastern
Time.
Company to Report First Quarter 2023 Financial and
Operational Results on May 4, 2023
As previously announced, Aurinia will release financial and
operational results for the first quarter of 2023, on Thursday, May
4, 2023, before markets open. Aurinia’s management team will host a
conference call/webcast at 8:30 am ET that day to review these
results and provide a general business update. Interested
participants can dial (888) 645-4404 (Toll-free U.S. & Canada).
The audio webcast can also be accessed under "News/Events” through
the “Investors” section of the Aurinia corporate website at
www.auriniapharma.com. A replay of the webcast will be available on
Aurinia’s website.
Questions or Require Voting Assistance?
Contact our proxy solicitation agent, Laurel Hill Advisory Group
toll free within North America at 1-877-452-7184 (1-416-304-0211
outside North America), or by email at
assistance@laurelhill.com.
About LUPKYNIS
LUPKYNIS® is the first U.S. FDA- and EC-approved oral medicine
for the treatment of adult patients with active LN. LUPKYNIS is a
novel, structurally modified calcineurin inhibitor (CNI) with a
dual mechanism of action, acting as an immunosuppressant through
inhibition of T cell activation and cytokine production and
promoting podocyte stability in the kidney. The recommended
starting dose of LUPKYNIS is three capsules twice daily with no
requirement for serum drug monitoring. Dose modifications can be
made based on Aurinia’s proprietary personalized eGFR-based dosing
protocol. Boxed Warning, warnings, and precautions for LUPKYNIS are
consistent with those of other CNI-immunosuppressive
treatments.
About Aurinia
Aurinia Pharmaceuticals is a fully integrated biopharmaceutical
company focused on delivering therapies to treat targeted patient
populations with a high unmet medical need that are impacted by
autoimmune, kidney and rare diseases. In January 2021, the Company
introduced LUPKYNIS® (voclosporin), the first FDA-approved oral
therapy dedicated to the treatment of adult patients with active
lupus nephritis. The Company’s head office is in Edmonton, Alberta,
its U.S. commercial office is in Rockville, Maryland. The Company
focuses its development efforts globally.
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version on businesswire.com: https://www.businesswire.com/news/home/20230502006216/en/
Investor/Media Contact: Aurinia@westwicke.com
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